Vietnamese EV maker VinFast receives $135 mln in green funding led by ADB
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VinFast said last year it planned to raise at least $400 mn via its first green loan to fund its manufacturing of electric vehicles.
Vietnamese electric vehicle maker VinFast said on Monday it has received a $135 million financing package led by the Asian Development Bank (ADB), part of a push by the bank to boost climate-friendly investments in the region. VinFast, the auto arm of Vietnam's largest conglomerate Vingroup JSC, said last year it planned to raise at least $400 million via its first green loan to fund its manufacturing of electric vehicles. "The assistance comprises 7-year tenor financing, including a $20 million loan funded by ADB, parallel loans of $87 million facilitated by ADB as mandated lead arranger, and concessional financing of up to $28 million," a joi...